I agree with you Paul that this is a case where the solicitors who drew the will are answerable to the beneficiary of the deceased‘s share of the property by survivorship. Had the deceased been advised to sever the joint tenancy which would’ve been possible in the Republic Of Ireland then his inheritance of a one third share would’ve been free of inheritance tax as it would have been payable out of the residuary estate. Of course I do not know how that would have affected the shares of the other two and whether the first sibling to die’s share was bequeathed to the surviving siblings. Nevertheless a severance would have reduced the inheritance tax liability in the estate I am dealing with so possibly your solicitors are also answerable to my clients. As it happens there is likely to be no CAT liability in respect the property because of the value and the relationship between the deceased and the beneficiary who in any case resides in Northern Ireland and of course there is a double taxation agreement between the Republic and the UK. Finally I have had confirmed by a solicitor in the Republic that the property was held as beneficial joint tenants I am not aware that including the bequest In the will would have the effect of causing a severance of the joint tenancy as I believe both countries have similar law in this respect.
Patrick Moroney
Bwl Solicitors